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On June 22, 1921, a group of 10 bankers from Buffalo, Cleveland and Detroit met at the Hotel Cleveland to adopt articles of association for the Bankers Association for Finance and Trade. The original objects and purposes of the association included: provide a medium by which its members may interchange opinions and establish uniform systems and methods for the conduct of foreign business; to urge the passage of wise and useful legislation and to oppose the enactment of prejudicial laws; and to aid the development and maintenance of foreign trade. Today, BAFTs role is little changed from the objectives laid out by the founders. BAFT continues to provide an educational and networking platform for its members and remains a catalyst in the development of solutions in international banking legislation and regulation. BAFTs highquality programs and conferences have allowed bankers from around the world to network, and to debate, discuss, and share issues of common interest and concern. Since the opening of its Washington, D.C. office in 1971, BAFTs international lobbying activity has contributed significantly to better treatment for all banks operating in global financial markets. Within two years of its founding, BAFT membership was available to nonU.S. banks, and during the 1990s membership was expanded to include service members, vendors of support services to bank members. Today, BAFTs 150 members include U.S. and nonU.S. banks, service members, and nonU.S. bank trade associations. BAFTs U.S. bank members include not just large global banks but also regional and community banks whose customers are active in foreign trade, either as exporters or importers. The international activities of BAFTs members extend far beyond foreign trade, and include the global capital markets, global custody, and global payments businesses. On July 1,2002, BAFT became an affiliate of the American Bankers Association. This affiliation is important for both organizations. It will strengthen BAFTs lobbying and advocacy capabilities by giving BAFT access to the most influential and wellstaffed financial services trade association in Washington. ABA will provide the platform and resources for BAFT to continue to serve as the leading advocate on international policy for the U.S. banking industry, not only in Washington, but also in major financial markets overseas. In turn, BAFT provides ABA with a proven and respected advocate on international banking issues. Together with its nonU.S. membership, BAFT will enhance the ABAs relationship with the international banking community and its participation in international organizations.

 

Address: 1120 Connecticut Avenue, N.W. 5th Floor | Washington, D.C. 20036
Telephone: 202.663.7575
Fax: 202.663.5538
Website: http://www.baft.org/jsps/